Indian equity markets gained on Friday, to close the year on a positive note. The NSE Nifty 50 Index advanced 1 percent on Friday with its January futures adding nearly 6 percent in open interest, indicating fresh buying.
The Nifty Bank Index also moved up 0.6 percent with fresh long positions reflecting in its futures open interest. Foreign institutional investors bought index futures worth Rs 753 crore on a net basis.
India Volatility Index gained 1.2 percent to close at 15.46 indicating expansion in option premiums. Most options writing was seen in the 8,100 and 8,000 puts with each adding over 13 lakh shares in open interest. Maximum open interest remained with the 8,000 put and 8,200 call, which broadly indicates a near-term range for the Nifty. FIIs placed their bets evenly across index options.
Adani Enterprises Ltd.s' January futures gained 5.2 percent with an addition of 17.9 percent in its open interest reflecting fresh long potions. Page Industries Ltd., which retreated by 5 percent, witnessed fresh short positions with an increase of 13.9 percent in open interest.
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